Pain management is one of the most prevalent and costly public health issues worldwide. In the U.S., pain affects more adults than diabetes and cancer combined1,2, and costs the healthcare system an estimated $635 billion annually.3 Current medications are either highly addictive or cause harm to the liver and kidney. There is a great unmet need for new, safe, effective, and non-opioid pain medications.
Incidence
Worldwide, an estimated
suffer from pain
are diagnosed with
chronic pain each year.3
have moderate to severe chronic pain.4
In the United States,
(50 million people) experience chronic pain5
(76 million people), have suffered from pain that lasts longer than 24 hours.6
Economic Burden
Pain is cited as the most common reason Americans access the healthcare system and is a leading cause of disability, making it a major contributor to healthcare costs.6
Patients with pain conditions consume close to twice as much healthcare resources as the general population.7
In 2020, the U.S. spent $11,945 on healthcare per person. That is $4,000 more than the country with the second highest expenditure.8
Healthcare costs in the United States are already disproportionately high. Moving forward, the U.S healthcare system cannot afford and may not support more expensive therapies.
HEALTH CONSUMPTION EXPENDITURES PER CAPITA, U.S. DOLLARS, PPP ADJUSTED, 2020 OR NEAREST YEAR
Overdose Epidemic
(In May 2022) the Centers for Disease Control and Prevention (CDC) released preliminary data that drug overdose deaths rose by nearly 15% in 2021 to >100,000.9
A 2021 Pew Study found that opioid misuse, dependence, and overdose account for $35 billion in healthcare costs, $14.8 billion in criminal justice costs, and $92 billion in lost productivity annually—a total of $141.8 billion dollars.10
The rising opioid crisis in the U.S. highlights the urgency for a new selective pain-relieving compound with minimal potential for dependence and addiction.
Significant Unmet Need & Market Opportunity
There is a significant market for new, selective, non-narcotic compounds to treat pain.
The global pain management therapeutics market was valued at approximately USD $72.4 million in 2021. Market research anticipates that its value will expand to nearly $106 billion by 2030.11
In the United States alone, the pain management therapeutics market is projected to reach over $12.5 billion by 2028.12 A recent study indicates that the global acetaminophen market, valued at $9.4 billion in 2021, will grow to over $14.1 billion by 2031.13
South Rampart Pharma,Inc.’s solution is a novel small molecule, introducing a value product that will be low cost and accessible to many patients.
